The Department of Energy (DOE) today announced a solicitation for up to $8 billion in federal loan guarantees for projects that employ advanced technologies that avoid, reduce or sequester emissions of air pollutants or greenhouse gases in the areas of coal-based power generation, industrial gasification, and advanced coal gasification facilities. This marks the third round of solicitations for DOE's Loan Guarantee Program, which encourages the commercial use of new or significantly improved energy technologies and is an important step in paving the way for clean energy projects. This solicitation will make available $6 billion in loan guarantee authority for incorporating carbon capture and storage (CCS) or other emissions-reducing carbon technologies into industrial gasification activities, retrofitted and new coal-based power generation facilities. An additional $2 billion in loan guarantee authority will be made available for advanced coal gasification projects, which convert coal cleanly into electricity, hydrogen, and other valuable energy products.
"The Department's fossil energy loan guarantees will provide key early support for technological innovation to curb CO2 emissions," Under Secretary of Energy Clarence "Bud" Albright, Jr. said. "The successful deployment of these clean coal projects will provide our nation with a greater degree of energy and economic security."
